The bright side is that since today RadioShack. Radioshack Audio… has formally been bought by Retail Ecommerce Ventures (REV), providing the struggling business a brand-new lease on life. The disadvantage, at least for folks like us, is that there are no instant plans to return the iconic electronics seller to its brick-and-mortar roots. As the name implies, REV concentrates on online retail, having formerly revamped the Internet presence of other bankrupt companies such as Pier 1 Imports and Dressbarn.
While journalism release doesn’t straight-out prevent the possibility of brand-new physical RadioShack places, it’s clear that REV believes the future of retail isn’t to be found in your local shopping center. As the United States mulls further lockdowns in reaction to the continuing COVID-19 pandemic, it’s difficult to disagree. There will be millions of bored kids and grownups searching for something to do during the long winter season nights, and an electronic kit or 2 shipped to their door might be just the thing.
REV states they prepare to relaunch the rather outdated RadioShack website just in time for the business’s 100th anniversary in 2021. Since this composing the website currently says that sales have been temporarily halted to enable stock restructuring, though it’s uncertain if this is straight related to the buyout or not. Getting an accurate count of how much product the business still has on hand after shuttering the majority of their physical places in 2017 definitely sounds like something the brand-new owners would wish to do.
Like most of you, we have fond memories of the Golden Age of RadioShack, back prior to they believed offering phones and TVs was in some way a good concept. To their credit, they did try and revive their relationship with hackers and makers by asking the community what they ‘d want to see in their stores. We all understand how that story ended. While it does not look like this news will get us any closer to having a community shop that stocks resistors, there’s a specific comfort in knowing that RadioShack books and sets will still be around for the next generation.
RadioShack’s shambling remains were offered another shock of life today when they were purchased by another company that plans to relaunch the once-great retailer as an online-focused brand name.
The shop’s remains were acquired by Retail Ecommerce Ventures (REV), a start-up founded in 2019 that’s been scooping up brand names from other faded retail giants also, including Pier 1, Modell’s Sporting Goods, Dressbarn, and more. REV says RadioShack’s site already has “strong existing sales and sales capacity,” and the business is “confident” it can further raise awareness of the brand name globally.
REV declares it’s effectively reversed other business it’s launched as online brand names. The Wall Street Journal reported that Dressbarn more than doubled its profits between the second and very first quarter of 2020.
RadioShack was established in 1921 and ended up being a retail staple in the ’80s and ’90s for anybody looking to get tech basics. REV didn’t say whether those RadioShack licenses would stick around. Radioshack Audio
REV says it will “quickly relaunch” RadioShack’s website. For those of you still clinging on to fond memories of the shop, there’ll be a familiar enough location to go when you want to buy overpriced HDMI cable televisions and knockoff earphones.